The Securities and Exchange Commission (SEC) is urging agribusinesses to tap the capital market for their funding needs, as the process for securities registration for the industry has been streamlined by the commission.
Corporations engaged in agribusiness are encouraged by the SEC to avail themselves of the Securing and Expanding Capital for Farms and Agribusiness Related Modernization Schemes (SEC FARMS) program which eases securities registration for the industry.
Under SEC FARMS, the SEC is required to review the registration statements of agribusiness firms within 28 days from the filing date, subject to the commission’s guidelines.
Through the scheme, agribusinesses may raise up to P500 million in funds per project.
‘We know that agriculture is the backbone of our economy – it feeds our people and sustains millions of families. Yet farmers and agribusinesses have often been left with little water to grow – the water here being capital or financing,’ SEC chairperson Francis Lim said.
‘SEC FARMS is our way of irrigating that field, making sure resources reach those who need them most so you can modernize, expand and thrive,’ he said.
SEC FARMs was enacted through SEC Memorandum Circular 8, Series of 2023, easing the registration process for the securities of agri-businesses in a bid to boost investor participation and drive growth in the industry.
‘Think of SEC FARMS as a new set of farming
tools – lighter, sharper and more efficient. With the right tools, your hard work will yield bigger harvests, not just for your families but for the whole nation,’ Lim said.
‘We are only at the start of this journey, but with your participation, I believe SEC FARMS can make Philippine agriculture more productive, competitive and sustainable,’ he said.